Japan Post (AFL) logs small AFLAC share sales via trust holdings

Q: How many AFLAC (AFL) shares did Japan Post Holdings sell in this Form 4?

Japan Post Holdings reported selling 17,300 AFLAC shares. The transactions included 6,615 shares, 10,645 shares, and 40 shares of AFLAC common stock, all executed on March 9, 2026, as open-market sales at prices slightly above $108 to just over $110 per share.

Q: How are the AFLAC (AFL) shares held according to the Form 4 footnotes?

The AFLAC shares are held through a trust structure. The securities are owned directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, with Japan Post Holdings potentially deemed a beneficial owner as sole settlor and beneficiary, while expressly disclaiming beneficial ownership except for its pecuniary interest.

Q: What type of transactions did Japan Post Holdings report for AFLAC (AFL) shares?

The transactions were open-market sales of common stock. Each line item is coded as an “S” transaction, described as a sale in open market or private transaction, with all three trades involving AFLAC common stock and no derivative exercises or tax-withholding events reported.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Japan Post Holdings Co., Ltd., a more than ten percent owner of AFLAC Inc, reported open-market sales of a total of 17,300 shares of AFLAC common stock on March 9, 2026. The shares were sold in three trades at prices around $109 to $110 per share.

After these transactions, Japan Post Holdings, through its indirect interest in J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, reports ownership of 52,205,100 shares of AFLAC common stock, indicating these sales represent a small portion of its overall position.

Insider Trade Summary 10b5-1

Net Seller: 17,300 shares ($1,896,482)

Net Sell 3 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 17,300 shs ($1.90M)

Type	Security	Shares	Price	Value
Sale	Common Stock	6,615	$108.98	$721K
Sale	Common Stock	10,645	$110.02	$1.17M
Sale	Common Stock	40	$110.40	$4K

Holdings After Transaction: Common Stock — 52,215,785 shares (Indirect, See footnote)

Footnotes (1)

The price reported represents the weighted average price of shares of Common Stock of Aflac Inc. (the "Issuer") sold in multiple transactions at prices ranging from $108.37 to $109.37 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range. The reported securities are held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee of the J&A Alliance Trust (the "Trust"). General Incorporated Association J&A Alliance ("General Incorporated") and Kenji Sano each may be deemed to beneficially own the securities held by J&A Holdings (in its capacity as trustee of the Trust) because (i) General Incorporated owns J&A Holdings and (ii) Kenji Sano owns 100% of the equity interests in General Incorporated. Japan Post Holdings Co., Ltd. ("Japan Post") may be deemed to beneficially own the shares of common stock owned directly by J&A Holdings, in its capacity as the trustee of the Trust, due to its role as the sole settlor and beneficiary of the Trust. Each of General Incorporated, Kenji Sano and Japan Post expressly disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest therein. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $109.375 to $110.365 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

Form 4 Insider Transactions: What Each Field Means →

03/11/2026 - 09:00 AM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Japan Post Holdings Co., Ltd.

(Last)

(First)

(Middle)

2-3-1, OTEMACHI, CHIYODA-KU

(Street)

TOKYO

100-8791

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AFLAC INC [ AFL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/09/2026		S		6,615	D	$108.98⁽¹⁾	52,215,785	I	See footnote⁽²⁾
Common Stock	03/09/2026		S		10,645	D	$110.02⁽³⁾	52,205,140	I	See footnote⁽²⁾
Common Stock	03/09/2026		S		40	D	$110.4	52,205,100	I	See footnote⁽²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported represents the weighted average price of shares of Common Stock of Aflac Inc. (the "Issuer") sold in multiple transactions at prices ranging from $108.37 to $109.37 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

2. The reported securities are held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee of the J&A Alliance Trust (the "Trust"). General Incorporated Association J&A Alliance ("General Incorporated") and Kenji Sano each may be deemed to beneficially own the securities held by J&A Holdings (in its capacity as trustee of the Trust) because (i) General Incorporated owns J&A Holdings and (ii) Kenji Sano owns 100% of the equity interests in General Incorporated. Japan Post Holdings Co., Ltd. ("Japan Post") may be deemed to beneficially own the shares of common stock owned directly by J&A Holdings, in its capacity as the trustee of the Trust, due to its role as the sole settlor and beneficiary of the Trust. Each of General Incorporated, Kenji Sano and Japan Post expressly disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

3. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $109.375 to $110.365 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

	/s/ Nobuyasu Kato, Rep. Exec. Officer and Executive Vice President of Japan Post Holdings Co., Ltd.	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Japan Post Holdings report in its latest AFL (AFLAC Inc) Form 4?

Japan Post Holdings Co., Ltd. reported selling AFLAC common shares. The filing shows open-market sales totaling 17,300 AFLAC common shares on March 9, 2026, while still reporting indirect ownership of 52,205,100 shares through a trust structure.

How many AFLAC (AFL) shares did Japan Post Holdings sell in this Form 4?

Japan Post Holdings reported selling 17,300 AFLAC shares. The transactions included 6,615 shares, 10,645 shares, and 40 shares of AFLAC common stock, all executed on March 9, 2026, as open-market sales at prices slightly above $108 to just over $110 per share.

At what prices were the AFLAC (AFL) shares sold by Japan Post Holdings?

The reported AFLAC share sales occurred around $109–$110 per share. Individual transactions were priced at $108.98, $110.02, and $110.40 per share, with footnotes noting weighted average price ranges between $108.37–$109.37 and $109.375–$110.365 for the grouped trades.

How many AFLAC (AFL) shares does Japan Post Holdings report owning after these sales?

Japan Post Holdings reports indirect ownership of 52,205,100 AFLAC shares. This figure reflects its position after the March 9, 2026 open-market sales, indicating that the 17,300 shares sold represent only a very small fraction of its overall reported holdings.

How are the AFLAC (AFL) shares held according to the Form 4 footnotes?

The AFLAC shares are held through a trust structure. The securities are owned directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, with Japan Post Holdings potentially deemed a beneficial owner as sole settlor and beneficiary, while expressly disclaiming beneficial ownership except for its pecuniary interest.

What type of transactions did Japan Post Holdings report for AFLAC (AFL) shares?

The transactions were open-market sales of common stock. Each line item is coded as an “S” transaction, described as a sale in open market or private transaction, with all three trades involving AFLAC common stock and no derivative exercises or tax-withholding events reported.